Probably my most favorite online business model is the monthly membership business model. You create a site around a topic that people want to learn about and charge a monthly fee for them to access it.
Now there are soooo many different ways to do this, but the reason why I love this model so much is because it allows you to create a MONTHLY INCOME. Membership sites are what pay my monthly bills.
The memberships that I run and own pay my bills each month giving me the freedom to do other things that make me money, and that’s just “gravy” money. That’s the money I get to spend anyway that I want.
If you don’t have a membership site setup yet, you need to get started right now because it is THE way to generate the money you need each month to cover your bills.
Let’s say you have $5000 a month in bills. If you setup a membership site and only charge $19.95 a month you only need about 250 members in your membership. That’s not a lot of people, and that’s VERY attainable!
So let’s look at the steps to creating your own membership site… Please note I’m assuming you already know what niche you want to be in. If not then creating your own membership site might not be for you just yet. If you want ready to go membership sites then make sure you get on my list at http://www.ReadyToGoSystems.com where you can learn about our “membership sites in a box” that you can get.
1. What are you going to offer and how often?
What are you going to offer in your membership site? Lessons, tutorials, discounts, service, forum access, mastermind group, personal coaching, etc
How often are you going to update your membership site? Weekly, every other week, monthly?
Example: In the next few months I’m starting a membership site called DFYProductsMonthly.com This will be a membership site where we setup X amount of digital products a month for people. This will be a service that we deliver monthly.
Once you get this down everything else will come together for you! It’s truly the hardest part!
Sidenote: Need ideas for a membership site? Then check out this post >>> http://backpackbusinesslifestyle.com/19-membership-site-ideas-to-cash-in-on
2. What are you going to use to get your membership site built?
I use OptimizePress to build all of my membership sites and it’s the only thing I currently recommend to use. They have tutorials and everything on how to build your membership site. If you don’t have techy abilities then you can outsource the creation of your membership site and it wont cost you an arm and a leg. Maybe a finger, but not an arm and a leg. 🙂
One you’ve decided this then you need to move forward with getting your membership site built and setup. That includes getting a domain name and hosting, the scripts you need, etc.
3. Create your initial “stuff”.
Depending on your membership will depend on the “stuff” you’re giving your members. I recommend having at least some initial “stuff” in there and then depending on your delivery schedule always stay ahead incase you get behind.
For example if you’re doing a monthly membership. Make sure you have at least 2-3 months of “stuff” ready to go for your members, and always stay ahead.
4. Create your marketing system.
Basically if you’re doing JUST a membership with no upells or anything (it’s totally okay to start with no up sells/down sells and or “levels” no matter what the “experts” tell you) then this will basically be a sales letter. You can either take a few days and totally submerse yourself into learning about creating sales letter copy and create your own or you can outsource this.
I also recommend having an affiliate program for your membership site so you can have others getting members for you. Yes, you’ll make less on members that come from affiliates, but you’ll get MORE members, and in the long run make more money.
5. Create a launch for your membership site.
There’s a ton of information out there on launching your product. Take that information and apply it to launching a membership site. There’s a lot that goes into this, but by doing it you can get a lot of members in quickly giving you a good surge of cash!
6. Manage your membership site.
Once you’ve done a launch and you have your initial members you need to continue managing your site. Keep adding “stuff” according to your delivery schedule, interact with your members, keep giving them “bonuses” to keep them paying you, etc.
7. Continually promote your membership site.
Of course you’ll need to continually promote your membership site so that you can grow your membership base, and your income. You can do this by continually driving traffic to your sales page, and getting affiliates to promote your membership if you setup an affiliate program.
Just remember… The moment you stop promoting your membership site is the moment your income stops growing!
Yes, I know it seems like a lot of work, and I’ll be honest. It is, but it’s worth it! When you can count on money coming in each and every month to keep your bills paid you’ll find some serious freedom. You’re time will become YOUR time, and there are so many additional income streams you can add on and those become your “gravy” money. The money you get to spend on things you want to. 🙂
Okay so that’s it for today…
Over the next several days we’re going to talk a lot more about you creating your own membership site. We’re going to cover how ideas for membersip sites, how to actually build your membership site, what you can put into it, how to promote it, and so much more!
I wanted to create this initial post though so you have a complete overview of this online business model. Please please please leave questions you have about what I covered below so I can continually update this tutorial with information that helps you to actually put this all into play!
Here’s to wishing you a healthy, happy, and wealthy life!